Aon plc (NYSE: AON), a leading global professional services firm, has released the fifth edition of the Study on Cybersecurity and Cyber Risk Management in Spain. The study, conducted in collaboration with Garrigues and the Esys Foundation, as well as the main cyber risk insurers in Spain, reveals a significant 25% increase in cyber insurance premiums, reaching 170 million euros.
A Comprehensive Study on the State of Cyber Risk
Aon’s study addresses regulatory developments in cybersecurity and analyzes the evolution of cyber risk in Spain. Key contributors include AIG, Allianz Commercial, AXA XL, Beazley, Chubb, Hiscox, QBE, Tokio Marine HCC, and Zurich, who have provided crucial data on the evolution of the insurance market and claims.
Spain, Among Countries with Highest Cyber Claims in the EU
One of the most relevant conclusions of the study is that Spain is among the countries with the highest cyber claims in the European Union. The sectors most affected by cyber incidents are also those with the highest uptake of cyber insurance, such as manufacturing, professional services, and financial institutions. Additionally, the construction sector, although less mature in terms of cybersecurity, also shows high claims.
Increase in Premiums Across All Sectors
The study highlights that in 2022, there was a widespread increase in cyber insurance premiums across all sectors and activities. This trend has continued in 2023, surpassing 170 million euros, representing a growth of over 25% compared to the previous year.
Data and Methodology of the Study
For the study, data from Aon and collaborating firms was analyzed, covering a total of 1000 organizations and over 11,000 data sources. This comprehensive approach allows for a detailed overview of cyber risk in Spain, comparing it to the European and global landscape.
A Benchmark in Cybersecurity
The Study on Cybersecurity and Cyber Risk Management in Spain has become a key benchmark in the field of cybersecurity, providing a detailed insight into the most affected industries, activities, and sectors and their evolution over time.
About Aon
Aon plc (NYSE: AON) exists to improve decisions, protect, and enhance the lives of people worldwide. Through analytical insight, globally integrated expertise in Risk and Human Capital, and locally relevant solutions, its professionals in over 120 countries provide clients with the clarity and confidence to make the best decisions on risks and people, to protect and grow their business.
This report emphasizes the growing importance of cybersecurity and the need to adopt preventive and corrective measures in an increasingly digitized environment vulnerable to cyber-attacks.